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RE: What is Proof of Weak Hands 3D and Why are People Dumping Tons of Ethereum Into It? [cryptocurrency][powh3d]

in #ethereum6 years ago

I think it's strange that people will pour money into something if it's gambling and they'll be totally fine (hopefully) when they lose on incredibly long odds. However, if they same scheme is run without their knowledge, it's a Ponzi scheme.

I guess it's just because different people are buying in. Rather than trying to invest, these people are trying to strike it rich. From what I understand, it's not necessarily even skill, it's just having enough money that you can be the last one to buy a ticket. Oh, well. People will put their money towards all kinds of things. They have to know that at this stage, they're just throwing their money away because of course more people will be buying in to keep the clock moving. If you're going to buy, at least wait a while and save it for one expensive ticket that actually has a shot of winning.

Not investment advice. Do your own research.

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True that @themanwithnoname but some are banking on some sort of a return, especially now that they are releasing a new contract real soon, and some profits from this new one will also go into the original two contracts....so oddly enough this is like a lotto ticket, ponzi scheme (HYIP) investement game all rolled into one.
Or it could turn out to be one giant Exit Scam as the name clearly implies.

I haven't kept up on the most recent developments from the project. I just know that I'm not planning on putting my retirement account into it. I wouldn't be surprised if they ran off with the money...